The following data from the just-completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost Raw material purchases. Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventory Raw materials Work in process Finished goods Direct materials: Raw materials used in production Total manufacturing costs Beginning of Year $ 8,000 5,000 70,000 Cost of goods manufactured End of Year $ 10,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 20,000 25,000 ECCLES COMPANY Schedule of Cost of Goods Manufactured $ 643,000 90,000 132,000 100,000 43,000 210,000 220,000 0 $ 0 0 0 0

The following data from the just-completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost Raw material purchases. Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventory Raw materials Work in process Finished goods Direct materials: Raw materials used in production Total manufacturing costs Beginning of Year $ 8,000 5,000 70,000 Cost of goods manufactured End of Year $ 10,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 20,000 25,000 ECCLES COMPANY Schedule of Cost of Goods Manufactured $ 643,000 90,000 132,000 100,000 43,000 210,000 220,000 0 $ 0 0 0 0

Name: The following data from the just-completed year are taken from the ac
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Description: The following data from the just-completed year are taken from the accounting records of Eccles Company:SalesDirect labour costRaw material purchasesSelling expensesAdministrative expensesManufacturing overhead applied to work in processActual manuf

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter1: Introduction To Cost Accounting

Section: Chapter Questions

Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...

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During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
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